ACP: Panama Canal Could Double Box Transits
The Panama Canal Authority could double in coming years the number of containers that move through the key East-West commercial waterway, the canal's chief told a maritime conference on Friday.A cargo-consolidation plan will seek to increase container volumes by assigning them to larger vessels, chief Ricaurte Vazquez told Houston maritime conference listeners. The authority also has granted shipping…
CMA CGM's Profit Jumps on Buoyant Demand
Strong global demand pushed up CMA CGM's third-quarter profit while the current quarter was seeing a rush to ship goods from China, the shipping group said on Friday as it played down the risk to trade from possible U.S. tariffs.The French company reported a net profit of $2.73 billion for third quarter, up from $388 million in the year-earlier period, supported by a 5.5% increase in volume for its main ocean shipping division.Like other shipping firms…
Montreal Port Employers Threaten Shutdown
Port of Montreal terminal operators have threatened to shut down most operations as of Sunday after providing a "final, comprehensive offer" to the longshore union.If the Canadian Union of Public Employees Local 375 does not accept the offer by Sunday at 8:00 p.m. "only essential services and activities unrelated to longshoring will continue at the Port of Montréal from 9 p.m. on Sunday," the Maritime Employers Association said in a statement on Thursday.So far…
UKMTO: Armed Small Craft Shadowed Vessel
British maritime agency says vessel approached by armed small craft near Yemen.The United Kingdom Maritime Trade Operations agency (UKMTO) said on Friday that a vessel was approached by a small craft on Thursday carrying armed personnel that came within three cables of the vessel.The incident was part of a larger sighting where the vessel observed nine to fifteen small craft in the area, approximately 53 nautical miles southwest of Aden…
Did You Know? Six Steps Cyber Attackers Take to Steal Maritime Data
Infostealers, a type of malware designed to steal sensitive information from an infected system, has marked significant rise in the first half of 2024 in the maritime domain, Marlink’s Security Operations Center (SOC) has reported.The whole process involves six steps – starting from initial infection to the exploitation of acquired data, which can have serious consequences for the maritime industry…
ZIM Accelerates Rollout of 'Smart Containers' on Vessels
ZIM Integrated Shipping Services is accelerating the global deployment of smart containers, helping to advance visibility and transparency through the integration…
Keel Laying for Vessel Pair at Vietnam's Piriou Shipyard
A ceremony attended by dignitaries has marked the official ‘birth date’ for the two new ships which will serve the Penzance to Isles of Scilly route for the Isles of Scilly Steamship Group (ISSG).The keel laying is a milestone in the build process, recognized for centuries as the ‘birth’ of a new ship and an important point for the Scillonian IV passenger ferry and the cargo vessel, Menawethan.Guests attended Piriou’s shipyard in Vietnam on November 6.…
US LNG Firms Expect Expansion Regulations to Ease Under New Administration
U.S. liquefied natural gas developers awaiting permits for new export projects this week expressed confidence President-elect Donald Trump will ease the way for their multi-billion-dollar expansion plans.Their confidence is buoyed by Trump's promise to end an expanded Department of Energy review that has slowed new export permits. President Joe Biden had paused new non-FTA export permits and asked…
China Objects to New Philippine Maritime Laws Covering South China Sea Areas
China summoned the Philippines' ambassador on Friday to express its objection to two new laws in the Southeast Asian nation asserting maritime rights and sovereignty over disputed areas of the South China Sea, its foreign ministry said.China made "solemn representations" to the ambassador shortly after Philippine President Ferdinand Marcos Jr signed the Maritime Zones Act and the Archipelagic Sea Lanes…
Wallenius Wilhelmsen Exercises Options for Two Additional Shaper Class PCTCs
Wallenius Wilhelmsen, the world’s largest RoRo vessel operator, has ordered two additional 11,700 CEU Shaper class pure car and truck carriers (PCTCs) from China Merchants Jingling Shipyard in China.The two declared options are part of the four previously announced outstanding options. Delivery is expected in the first half of 2028.As part of the agreement, Wallenius Wilhelmsen will continue to hold options for two more vessels declarable by the second half of 2025.
Crystal Orders Another Cruise Ship from Fincantieri
Italian shipbuilder Fincantieri has received an order for a new cruise ship from U.S.-based cruise operator Crystal, following the exercise of the option granted under the two-unit agreement from June 2024.The value of the agreement, subject to financing and other terms and conditions, is considered as large, which for Fincantieri means it represents a value between $590 million to $1.07 billion.Crystal MoA for 2+1 Cruise Ship OrderThe new unit…
Container Vessel Orders Mark Over 50% Rise in 2024
Orders of new container vessels are up by approximately 52% year-on-year with 254 new contracts placed in 2024, compared to 167 in the corresponding period of 2023, according to a new report by Veson Nautical's data intelligence arm VesselsValue.The report, titled ‘Golden Age: Container shipping’s post-covid boom continues’, states that in addition to the huge uptick in orders, 2024 has seen 362 new…
